posted 7.57 a.m. est Pre-open Friday 22nd January ES spent very little time above 1135 after the open on Thursday before Significant Sellers responded (red at top) and auctioned price quickly lower.  In fact quickly below the poc support at 1129 and down to the next level of support at 1108.  The Value Area was […]

posted 9.29 a.m. est Pre-open Thursday 21st January 80% of the time a green-at-top high gets tested the following day (Tuesday’s was not) and 90% get tested within two days (we’ll see).  Whether it does or not the fact that the last imbalance was buying (green) means I will not look to short yet. Most […]

posted 7.05 a.m. est Pre-open Wednesday 20th January Ninety minutes before open on Tuesday ES tested below 1127 (bottom of cumulative Value Area since the start of the year) and rallied strongly.  Buyers are obviously still in control and alert to opportunity – I marked their activity as Significant later in the day (green-at-top).  You […]

posted 8.55 a.m. est Pre-open Tuesday 19th January Last week I marked one instance of Significant Buying and no Significant Selling.  The support level at 1129 held up but ES probes that level again pre-open today.  As discussed in this week’s webcast/eBook both ST and LT Sentiment measures are indicating that the market is overheated […]

posted 8.05 a.m. est Pre-open Friday 15th January Thursday’s Value Area was higher and narrower and volume was relatively low.  That’s not obviously facilitating trade higher.  Pre-open today ES has printed down to test the 1/2Range off Monday’s high at 1138.5 which is minor support. LT sentiment: Investors appear to be highly complacent about the […]

posted 5.30 a.m. est Pre-open Thursday 14th January The support at 1129 that I have marked for a week now held again on Wednesday – the low was 1129.25.  This is the market still “acting right”, i.e. not printing any value below obvious support. Once again this level was rejeceted and Significant Effective Buying rallied […]

posted 9.29 a.m. est Pre-open Wednesday 13th January Similar to last Thursday there was a brief probe below 1129 yesterday which was rejected.  This confirms 1129 as “a good reference level for short term traders” as I described it a week ago.  From Tuesday’s low ES has printed back as high as 1137. Although I […]

posted 9.30 a.m. est Pre-open Tuesday 12th January Monday opened higher and met with selling immediately although my criteria doesn’t allow me to mark it as significant.  I cannot look for shorts as the most recent imbalance was Buying (green).  Wouldn’t want to anyway until I see Effective Selling below 1129.  Short term public sentiment […]

posted 9.26 a.m. est Pre-open Monday 11th January Last week I marked three instances of Significant Buying activity and no Significant Selling activity.  The low of the week was on Monday and the high on Friday with Friday closing above the Monday-Wednesday range. The First Level support remains at 1129 for the start of this […]